Group Chief Financial Officer
Joint Stock Holding Company
Total years of experience :31 years, 0 Months
May 2006 - Present: Chief Financial Officer
Construction Group
Jeddah, Saudi Arabia
- Provide leadership and direction for the finance department.
- Develop & implement a vision and strategy for finance, which is in line with the overall Company's strategy and supports objectives of the business.
- Monitor and report on overall and business financial performance.
- Prepare financial business plans, budgets and establish strategic financial objectives and key performance indicators for the Group.
- Prepare consolidated financial statements for the Group
- Prepare annual business planes, cash flow projection, forecasts and long term planes.
- Quarterly operating results of the company as a whole and in terms of its operating divisions or business segments.
- Details of joint ventures or collaboration agreements or agreements with distributors, agents, etc.
- CFO has to make sure that appropriate accounting policies have been consistently applied in preparation in financial statements and accounting estimates are based on reasonable and prudent judgment.
- The system of internal control is sound in design and has been effectively implemented and monitored.
- Develop and implement strategies for raising funds for major initiatives and projects with goal of minimizing exposure. For this he will maintain good relations with all banks to attain bank facilities with best terms and conditions as per the need of company and will monitor the proper and best use of these facilities.
- Co-ordinates with all other Divisions and Departments to facilitate the preparation and finalization of the Company's annual budget and annual reports.
- Manage the financial units including accountants.
- Develop Financial and management reports for top level management and company shareholders
- Reviews the operational and financial results of the Company and compares results against objectives and budgets.
- Control the year-end closing process and activities.
- Co-ordinates with external auditors and handles their requirements in order to finalize the audit of the financial statements of the Company.
- Manage the company's day to day cash position to the benefit of the company.
- Ensure that appropriate internal control systems are in place to efficiently manage the range of company's financial functions including payroll, creditors, rates and sundry debtors.
- Ensure that appropriate debtors function is maintained.
- Ensure that company's creditors are paid on a timely basis and appropriate systems and procedures are in place to ensure authorization of all payments in accordance with organization's purchasing policy and delegations.
- Establish clear financial parameters monitoring financial performances of each cost center.
- Improve cash flow by improving receivable collection procedures and implementing strict credit lines.
- Re-organize the finance department to best suite the company structure and activities.
- Draw accounting policies and practices according to GAPP.
- Managing the Implementation and the utilizing of the new computerized financial system.
Feb 2005 - Apr 2006: Financial Controller
Riyadh Dev. Co. for Construction (Sara Holding Co. Subsidiary)
Riyadh, Saudi Arabia
- Over seeing the execution of all financial transactions, maintain adequate internal controls over company procedures to ensure compliance to management polices and Saudi and international accounting regulations for protecting assets and owners' interests.
-Contribute to the business planning process through financial engineering and analysis, budgeting and cash flow projections of projects and business subsidiaries.
-Supervising over the implementation of the procedures relating to the preparation of the estimated balance sheets / budgets and making sure that the managers of the departments / subsidiaries and affiliated companies understand the style of preparing them as well as reviewing the information and figures which used for producing the required reports
- Responsible for Comparing Budget against Actual and analysis the variation and take the necessary action to keep budget on track.
-Maintain and foster local banking relationships including negotiating facilities agreements and ensuring that such activities are carried out within planned time frame and in context with general financial plans, targets and interest.
-Monitor and support the accounting staff in day -to-day operations.
-Organize and co-ordinate all activities to ensure timely preparation and dispatch of monthly financial reports to general management.
- Ensure that the proper forms and correspondences filed to regulatory entities.
-Coordinating with external auditors to produce audited financial statements.
-Authorize payments and monitor project expenditures and report the variances.
- Reviewing the contracts and all the obligations prior to concluding them with other parties in order to determine their financial impact and effect upon the company along with expressing the comments and observations upon them.
- Managing financial studies for new investment opportunities.
Working as a Senior consultant responsible to direct, monitor and supervise consulting plans .
-Managed assignments relating to financial consulting.
-Prepare feasibility studies for many projects and evaluating companies for (joint venture, new partners and other purposes).
Mar 1996 - Sep 2003: Accounting Manager / Acting as a Finance Manager
Elopak Obeikan Co. LTD
Riyadh, Saudi Arabia
- Responsible for company cash flow (inflow - outflow) and monitoring company financial situation and make the necessary actions to have the liquidity of the company in the proper level for facing all company process requirements.
- Responsible for financial statements (Balance Sheet - Profit and Loss - Cash Flow Statement - Fixed Assets Statement) to be produced in monthly basis.
- Responsible for Year-end Closing with the external auditors till financial statements officially finalized (Balance Sheet - Profit and Loss - Cash Flow - Fixed Assets Sheet) and all analysis - details required.
- Responsible for Prepare annual budget and its proper implementation, prepare special project budget, develop financial liabilities, and monitor the viability of the company including the new projects.
- Responsible for Comparing Budget against Actual and analysis the variation and take the necessary action to keep budget on track
- Responsible for implementing and supervision of the accounting and reporting system (General Ledger, A/R and A/P)
- Responsible for verifying all entries for accounting department and make sure that the accounting computer system is working properly and producing all reports required as per management requirements.
- Stock control with raw material, final product, under product, spare parts, all other materials through inventory and purchasing dept. and make sure that all materials required for production and sales are available in house on time.
- Following up banks, (L/C) letters of credit, (L/G) letter of guarantee, and banks balances.
- Looking for Some Administration Issues
Feb 1993 - Dec 1995: Accountant
World of Knowledge Co.
Cairo, Egypt
- Prepare journal vouchers.
-Prepare checks vouchers & cash vouchers& payable invoices & sales invoices & cash receipt and credit note
- Prepare Payroll for company employees.
- Verify Accruals and other year-end procedures.
- Participate in the closing the certain year in the end of the year.
- Responsible for reconciliation statement of Bank accounts.
- Prepare the reconciliation statement of Acc. Payable & Acc. Rec.
Jul 2000 Institute of Management Accountants, New Jersey - USA, United States Certified Management Accountant (CMA) Candidate. - Preparing to Certified Management Accountant, Parts no 2 and 4 already attended and preparing for passing the exam soon.
Jun 1991 Assuit University, Assuit, Egypt Bachelor of Commerce Accounting Section
